Everytime we break to the downside, the activity expands. And everytime we retrace to the upside the activity dries up. I marked the broken support with turcuoise lines. Obviously bears have control. As a potential entry look at the small Head and Sholders pattern that formes within the selling zone. Possible trade plan: If the right shoulder is formed and then the neckline is broken to the downside this will confirm the pattern. After the breakout of the neckline enter sell at market, stops above the right shoulder (Head = more secure) and targets = retest of previous lows.
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Check the higher timeframe analysis in ralated ides links below.